“Shell”, investments in Shpirag, company buys entire concession
03/02/2016 20:10
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The Minister of Energy, Damian Gjiknuri, declared that the agreement
between Petromanas and Shell unblocks the oil researches in Shpirag,
making way for bigger investments in the area.
“The project will continue with investments mounting up to 250-300 million USD, only for the research part at the oil reserves”, Gjiknuri said.
Petromanas sold 25% of the shares to Shell. They owned these shares in the Block 2 and Block 3 of Shpirag, near Berat.
“The fact that they bought the shares of Petromanas in Albania shows the trust that there is oil. This is a good confirmation for fuel policies”, said the Minister of Energy.
By the end of 2013, Shell and Petromanas said they found oil in Shpirag 2. The first tests showed there might be a production of 800 to 1300 oil barrels a day, but another well was to be created to reach commercial capacity, but Petromanas had no financial capacity to realize it.
Shell is the 4th company in the world as regards annual income, which is 423 billion USD, 40 times more than the GDP of Albania.
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